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Jeff Bezos Blue Origin is suing the United States government over issues in NASA’s Human Landing System $2.9-billion contract that the space agency awarded to Elon Musk’s SpaceX. Blue Origin said that there were flaws in the acquisition process in the deal, with the company aiming to work on NASA’s …
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August, 2021
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17 August 2021 4:31 am
Fed’s Rosengren Thinks Tapering Should Begin in October or November
The President of the Federal Reserve Bank of Boston, Eric Rosengren, said it would be appropriate to begin tapering the massive asset purchases after another month of strong jobs data. “We have had two months in a row where we have created more than 900,000 jobs and the unemployment rate …
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17 August 2021 4:04 am
Wall Street Recovers Earlier Losses and Finishes Mostly at New Record Highs
The main indices of the New York Stock Exchange (NYSE) continued to show a mixed performance, with Wall Street investors seemingly not paying much attention to the disappointing economic data in the U.S. and China. The Dow Jones Industrial Average closed higher by 110.02 points, or 0.31%, at 35,625.4 points, …
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17 August 2021 3:50 am
Oil Settles Lower due to Recovery Concerns
Oil prices declined on Monday, with economic data in the world’s two biggest economies renewing concerns over the pace of recovery from the coronavirus pandemic, especially with the spread of the Delta variant. Factory production and retail sales in China slowed sharply last month, while in the United States, the …
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17 August 2021 2:02 am
Gold Scores Gains on Negative Economic Data
Gold prices rose on Monday, managing to register its second consecutive daily rise, amid a fluctuating performance by the U.S. Dollar (USD) that also remained mostly in the positive territory, with disappointing economic data giving support to the demand for safe havens. Gold futures for December delivery added $11.70, or …
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16 August 2021 9:31 pm
European Stocks Closes Lower to ends Record-Breaking Rally
European stocks finished lower on Monday, opening the week with a negative performance that ends a 10-session record-breaking tally, the longest in about 14 years. Weaker than expected economic indicators in China are weighing on investors’ sentiment and risk appetite, with continuous concerns over the resurgence of the coronavirus with …
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16 August 2021 7:38 pm
Canadian Wholesale Sales below Expectations in June
Canadian wholesale sales declined by 0.8% on an annual basis in June to CAD 71.5 billion, but 2.1% for the month, below market expectations of a 2.5% increase, according to data by Statistics Canada on Monday. The wholesale sales of building materials and supplies dropped by 5.4%, while sales of …
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16 August 2021 5:27 pm
Manufacturing Sales Increase by 2.1% in June
Manufacturing Sales rose by 2.1% on a monthly basis in June to C$59.2 billion, the data published by Statistics Canada reported on Monday. This reading followed June’s contraction of 0.3% and missed the market expectation for an increase of 2.5%.
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16 August 2021 4:47 pm
Gold Falls From a Week’s Peak as The Dollar Rises
Gold prices retreated from their highest level in a week on Monday, August 16 with the dollar’s rise, but easing concerns about the US Federal Reserve’s early cut in stimulus policies, and fears of an outbreak of the Delta strain contributed to the price of the yellow metal remaining near …
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16 August 2021 4:45 pm
NY Empire State Manufacturing Index slumps to 18.3 in August
The headline General Business Conditions Index of the NY Fed’s Empire State Manufacturing Survey fell sharply to 18.3 in August from 43 in July. This reading missed the market expectation of 29 by a wide margin.
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16 August 2021 4:44 pm
The US Dollar is Falling Due to Weak Consumer Sentiment
The US dollar settled near a one-week low against the other major currencies on Monday, August 16th, while declining US consumer sentiment hurt bets on an early Federal Reserve monetary policy tightening, while the yuan and Australian dollar fell after disappointing Chinese economic data. There was little change in the …
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16 August 2021 2:53 pm
CDC: U.S. Administers 356.4 Million Doses of COVID-19 Vaccines
The US Centers for Disease Control and Prevention (CDC) said that the United States had given more than 356 million doses of Corona vaccines in the country as of Sunday morning, August 15, and distributed more than 415 million doses. The CDC said about 198 million people had received at …
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16 August 2021 2:29 pm
Weak Chinese data Halt Gains in European Shares
European stocks’ 10-day gains were halted Monday, August 16th, following an unexpected slowdown in China’s economic indicators, with commodity-related stocks posting the biggest loss. The STOXX 600 index of the most important European shares fell 0.5% in early trading, retreating from record levels last week. Oil and mining shares fell …
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